The latest market report published by Credence Research, Inc. “Urology Imaging Systems Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026” the urology imaging systems market was valued at US$ 302.4 Mn in 2017 and expected to reach US$ 441.6 Mn by 2026 at a CAGR of 4.1% during the forecast period from 2018 to 2026.
The global urology imaging systems market shows dynamic progress during the forecast period from 2018 to 2026. Major factors such as the increasing burden of target diseases on a global scale, improved product commercialization, increasing private funding to support new product development, evolution of digital platforms, and the formation of new diagnostic centers are driving the market growth. Additionally, new launch of advanced portable imaging systems along with growing demand for 3D-4D devices is driving the market. Additionally, partnerships with diagnostics centers by medical technology companies internationally and product technology expansion in emerging nations are factors driving the growth of the urology imaging systems market.
Worldwide rising prevalence of urinary incontinence, fecal incontinence, chronic anal fissure, constipation, perineal pain, hindgut dysfunction, and urinary retention are anticipated to fuel the growth of the market. Other factors include increasing ambulatory care, progression in the digital platforms, and utilization of advanced imaging systems in the diagnostic centers segment. Additionally, growing partnerships with clinics, effective patient diagnosis along with enhanced workflow efficiency will drive the demand during the forecast period. However, the high cost of on platform urology imaging systems, limited diagnostic services, less awareness, and affordability concerns for new imaging systems for multiple applications are limiting the growth of the urology imaging systems market globally.
Key Market Movements:
- Globally, the urology imaging systems market will grow with a CAGR of 4.1% during the period from 2018 to 2026
- Increasing adoption in the portable segment is gaining traction in the market
- Evolution from 2D to 3D clinical diagnostics along with integration of healthcare infrastructure cloud-based solutions will drive the growth prominently
- Asia Pacific and Europe are the key regions in the global market due to established distribution networks of local manufacturers along with higher patient pool with urological disorders
- Major players in this vertical are GE Healthcare (General Electric Company), Esaote SpA, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., BK Ultrasound, Siemens Healthineers, Philips Healthcare, Verathon Inc., LABORIE, Samsung, Echo-Son, ECM Echo Control Medical SAS, Ampronix, Toshiba Medical, Fujifilm Sonosite, Hitachi, Ltd. and others